The street runs from the central Republic Square to the statue of prominent Armenian writer Khachatur Abovian (1809–1848), who the street is named after. Abovyan Street is the first planned street of the Armenian capital.

In 1855, the Russian viceroy of Caucasus confirmed the planning of Yerevan streets. The average width of the streets was planned to be from 6 to 20 meters. Astafayan Street was planned to be 20 meters wide. Astafyan St. was the first street in Yerevan that was built according to a certain plan. It was opened in 1863 and was named Astafyan after Mikhail Astafyev, the governor of the Erivan Governorate from 1860 to 1862.[1]

The street was officially called Astafyevskaya (Russian: Астафьевская улица), but the residents of Yerevan called it in their way – changing the suffix "-yevskaya" to "-yan". That was the main reason why it was known as Astafyan (Armenian: Աստաֆյան փողոց), not Astafyevskaya. In 1904, the horsecar system began to be constructed on Abovyan Street and was completed in 1906. It only operated 12 years, until 1918. The first tram in Yerevan passed on Abovyan Street in 1933.[1]